BlackBerry's latest device may not be enough to turn the company around and finance jobs are on the chopping block as banks look to thin out payrolls. Here's the Friday Bloomberg After The Bell Report from the New York Stock Exchange.
NYSE MKT Exchange
2407.43 up 9.67
3239.38 up 16.78
Standard And Poors 500
1553.74 up 7.94
Wall Street firms are trying to slim expenses as they face a slump in stock transactions. Sources tell Bloomberg Bank of America has already let 30 trading and sales employees go this month, including the head of its international equities trading branch. Bank of America's revenue from equities sales and trading dropped by nearly 25-percent last year.
The new BlackBerry Z10 phone went on sale in the U.S. on Friday, but investors didn't respond well to the debut. Shares tumbled the most in almost two months after analysts raised concern that the smartphones are getting a lukewarm response.
Stocks rose on better than expected corporate earnings.
Starbucks customers are drinking up a discount deal through Groupon. Friday's offer of a $10 gift card for $5 marked the first time the world's largest coffee giant has used the deal site. A spokeswoman for Starbucks said the company has already sold more than 100,000 deals.